[LETTERHEAD] June 30, 2022
E. Sequoyah Simermeyer, Chair National Indian Gaming Commission United States Department of the Interior
1849 C St., NW Mail Stop #1621 Washington, D.C. 20040
Re: Comments on NIGC’s proposed amendments to 25 C.F.R. Part 571
I. Introduction These comments are made in response to the notice of proposed rulemaking published by the NIGC in the Federal Register on June 1, 2022. This proposed rule was drafted after the NIGC held a series of consultations with tribal governments on proposed revisions to its regulations, including potential revisions to the regulations governing NIGC audit standards. The [Tribe/Nation] therefore submits the following comments, which are included under headings of the subsections of 25 C.F.R. Part 571 below. We are pleased to provide input on these proposed changes. II. Comments A. Submissions of the Annual Audit (25 C.F.R. Part 571) a. Part 571.12(b)(3)(i)-(ii) states “The independent certified public accountant expresses an opinion on the financial statements. An adverse opinion must be submitted, but does not satisfy this requirement unless: i. It is the result of the gaming operation meeting the definition of a state or local government and the gaming operation prepared its financial statements in accordance with generally accepted accounting principles (GAAP) as promulgated by Financial Accounting Standards Board (FASB), or; ii. the adverse opinion pertains to a consolidated audit pursuant to paragraph (d) of this section and the operations not attributable to the adverse opinion are clearly identified.” Respectfully, we believe that this topic warrants further consideration. While we greatly appreciate the NIGC’s willingness to clarify its proposed language following the last comment period, we believe there is more work to be done on this topic. Certainly, an adverse opinion raises concerns, but the effect of this revision would be to create a new basis for an enforcement action
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